Los Angeles, CA – February 1, 2022 – Vance Street Capital (“Vance Street”), a middle market private equity firm, held the final closing on December 31, 2021 for its third buyout fund, Vance Street Capital III L.P. (“Fund III”), with $432.5 million in commitments, exceeding its target of $375 million. Through Fund III, Vance Street will continue to partner with founders, families and management teams of highly engineered solutions businesses across the medical, life science, industrial, and aerospace & defense sectors.
Fund III represents an increase over Fund II, which had $250 million of commitments. Since its founding in 2007, Vance Street has now raised $1 billion of committed capital. Targeted investments are North American middle market B2B manufacturers of mission-critical products and components serving high cost of failure applications in niche markets. Over 90% of Vance Street’s acquisitions are founder-owned businesses or corporate carve outs.
Vance Street has already completed six platform investments out of Fund III since commencing the investment period. These investments include: Wytech Industries (specialty medical wire and tubing), Excel Scientific (films and foils used in life science applications), Plastic Design Corporation (medical micro molding), Spectra Aerospace & Defense (C5ISR defense electronics), McFarlane Aviation Products (PMA aerospace parts), and Polara Enterprises (pedestrian safety systems). The active portfolio totals fourteen platform investments across Funds I, II, and III.
“We are thrilled to close Fund III significantly above our target. We want to thank our existing Fund II institutional investors, all of whom reinvested in Fund III, and welcome more than 30 new limited partners including insurance companies, asset management firms, fund of funds, endowments, foundations, universities, family offices, and consultants whose clients who are joining us for the first time in Fund III” said Brian Martin, Managing Partner at Vance Street.
“We are committed to partnering with families, founders and management teams who have built market leading and established companies to support their continued growth through investments in people, processes and technology,” said Mike Janish, Managing Partner at Vance Street. “We have an experienced and specialized network of operators and executives to support our partner businesses, and we look forward to continuing to execute on our value creation playbook in the years to come.”
Proskauer Rose LLP served as legal advisor and Capstone Partners served as placement agent.
About Vance Street Capital LLC
Vance Street Capital is a middle-market private equity firm focused on investing in highly engineered solutions businesses across the industrial, medical, life science, and aerospace & defense sectors. For over two decades, Vance Street’s partners have worked with management teams and family owners to accelerate revenue growth, improve operations and acquire strategic assets for the companies in their investment portfolio. For more information please visit: www.vancestreetcapital.com.
For More Information Contact
Brian Martin, Managing Partner
Natalie Yates, Director of Business Development
Vance Street Capital
11150 Santa Monica Blvd, Suite 750
Los Angeles, CA 90025